Sec. 7. In making the determination under section 6 of this chapter, the attorney shall consider the following:
(1) The amount of interest the money would earn during the period the money is expected to be deposited.
(2) The cost of establishing and administering the account.
(3) The capability of the depository financial institution to calculate and pay the interest earned by each client's funds, after deduction of any service charges, to the client.
[Pre-2004 Recodification Citation: 33-20-5-7.]
As added by P.L.98-2004, SEC.23.
Structure Indiana Code
Title 33. Courts and Court Officers
Article 44. Interest Bearing Attorney Trust Accounts
Chapter 5. Participation by Attorneys
33-44-5-1. Application of Chapter
33-44-5-2. Attorneys Not Subject to Article
33-44-5-3. Written Statement of Attorney; Procedure
33-44-5-4. Presumption if Written Statement Not Filed
33-44-5-5. Placement of Funds; Interest Bearing Attorney Trust Account
33-44-5-6. Qualified Funds; Determination by Attorney
33-44-5-7. Determination of Qualified Funds; Considerations
33-44-5-8. Good Faith Judgment Concerning Deposit of Funds; Attorney Liability